Recently, we have been discussing us entering a new phase where artificial intelligence is turning into a reality. However, before going deep into this conversation, we need to understand its definitions, its actual limitations, and the reason behind such vast changes.
Artificial intelligence is supposed to replace human intelligence and ultimately destroy our control. It has also been predicted that machines are dominant creatures on the planet because of their catastrophic consequences on humanity.
It is still a bit of a stretch, at least for the foreseeable future, as advances in hardware and software development robotics have nothing to do with artificial intelligence. However, the development of metaverse crypto, VR, and gaming has made people rethink this singularity.
According to the market analysis performed recently, it has been estimated that the opportunity in the metaverse market may reach up to $800 billion by 2024. It is considered an expected rise for the metaverse. However, people are still asking questions about the actual definition of the metaverse.
Currently, you might think of the Internet as a 2D space that is used for producing and sharing content, creating value, and connecting with anyone and anywhere. On the other hand, the metaverse is a virtual 3D space that enables you to perform every task you do today but is completely immersed via Virtual Reality and Augmented Reality. This space will make you think as if you are living in the real world. But, it will be in a Virtual Reality graphics-driven manner in which you will be able to interact, connect, transact, and create with others.
In a nutshell, metaverse will give you the experience of living on the Internet. And, it is going to open the possibility of creating a new world and economy. In this virtual world, you will be able to interact with people in a digital space.
For a relatively long time, we have noticed the development of mainframe computers into personal computers and then, ultimately to mobile devices. However, in the metaverse, the emirson will not go on a faster device. Instead, they are making it possible for us to buy things in the real- world with the help of VR and AR. The connection of computers to the Internet led to their widespread adoption and the beginning of the dot-com era, with the last fifteen years clearly being dominated by cell phones and leading to widespread mass adoption, thereby making metaverse a very practical concept.
According to Matthew Ball, an outspoken supporter of Metaverse, these Metaverse are permanent, which means there will be no reset, pause, or exit. He also stated that it is going to be live unlike the Internet today. Also, the concurrent users do not have any limits, thereby making it different and unique from the metaverse today.
After the announcement of Mark Zukerberg concerning their remodeling of Facebook as meta, we witnessed a giant leap in cryptocurrency. Hence, it is clear that it is going to have a significant place in the metaverse. It is because both cryptocurrency and metaverse share a common principle, i.e., decentralization of fiscal ownership, thereby making both verifiable and immutable ownership convenient.
The monetary transaction in the virtual world should also be virtual. Hence, blockchain and cryptocurrency are going to be an integral part of the metaverse. A blockchain will make your transaction cryptographically secure.
Moreover, people’s interest in digital properties has spiked the demand for NFTs that are unique digital items. In this, the ownership and other information are coded in a token. Hence, NFTs are going to provide people ownership of their characters in the metaverse. Its ease of use – supported by advanced technology and the need for transparency – requires coding.
It will act as an inspiration for people to make more and better investments and trade. And, it can only be achieved when crypto will be integrated with VR/AR technology.
The advancement in AI and Neuromorphic computing will accelerate the approach of artificial general intelligence and enable us to witness a metaverse where an AI is indistinguishable from the human. It is definitely going to be the next big thing on the Internet.